about 300bp of cushion for real depreciation per year...ln sum, it seems good value
near term mark to market risk is slower pace of implementation of energy reform and a selloff in USTs
happy to discuss further if u find interesting...
MB0N0 7 '4 11/13/47 + ODD
18 Apr 103 438
MBONO 7 4 11/42 95l Save As 96) Actions - 97) Edit • 9Eti Table Yield Chart
04/19/2012 01/ M/2014 Mid TIM " Bel 3:11M-- i . ,rti ioarP No Lower Chart PI
DO • CC 61 Stiu'it,-"37.O.' M Kes-. O
ffil M
\Ai 4 44047.0
0-6.500
0-6.000
a lid Yield To Maturity 7.504
T High on 12/04/13 7.836 pr 5.500
► Average 6.740
Low on 05/02/13 S.313
Jun Sep Dec Mar 2u Sep Dec
2012 gi n 2014
Australia 61 2 9777 8600 Brazil 5511 3048 4500 Europe 44 20 7330 7500 Germany 49 69 9204 1210 Hong Kong 852 2977 6000
Japan 81 3 3201 8900 Singapore 65 6212 1000 U.S. 1 212 318 2000 Copyright 2014 Bloomberg Finance L.P.
SN 812823 EST GMT-5'00 H376-306-2 14-Jan-2014 03:04.41
CNYMXN chart courtesy Nav Gupta (shows relative value in Labour cost between China and Mexico)
CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0 107645
CONFIDENTIAL SDNY_GM_00253829
EFTA01451259